"The technical partnership will allow Mercedes-AMG (a wholly owned subsidiary of Daimler) and Aston Martin to develop specialised V8 engines supporting Aston Martin's launch of a next generation of models," the two car companies said in a joint statement.
Under the terms of the deal, Daimler will receive up to five percent of non-voting shares in Aston Martin as the technical partnership deepened and progressed.
"At the same time, the company will receive an observer status on the Aston Martin Holdings board," the statement said.
The two manufacturers said they were looking to conclude the terms of an additional co-operation agreement in the area of components and they would investigate additional areas of co-operation in the future.
The statement added that Aston Martin will continue to manufacture all of its sports cars at its Gaydon headquarters in Warwickshire.
Source: AFP via I-Net Bridge
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